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Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
 The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (BDI) from late 2008 and until today. Yesterday, the industry’s index was almost stagnant, falling by a marginal 10 points at 2,981, with the panamax and supramax sectors posting small gains, while the larger capesize vessels losing some ground.
The latest weekly report from Paris-based shipbrokers Barry Rogliano Salles (BRS) said that rates came under pressure last week, with all segments posting declines except the capsizes. “Overall the BDI logged a 3% drop, despite a 5% increase in Cape rates” said the broker.
Of course, the past week’s news were all about the outcome of the iron ore negotiations, where both participating sides turning up the heat. “China’s Iron and Steel Association called on its members to impose a two-month boycott of the three major miners in protest at steep price rises. CISA said stockpiles were sufficient to keep the mills supplied for this time, although opinion was divided whether CISA’s 120 members, accounting for 90% of China’s steel output, could be persuaded to comply. Members may fear a repeat of last year, when they refused prices agreed by the Japanese only to see spot levels continue to climb.
Meanwhile Vale stated it had signed new quarterly contract deals with the vast majority of its clients, equivalent to 90% of sales volumes under contract. It is not clear how many Chinese buyers are included in this total, however. More than three-quarters of Vale’s sales to China were made on a spot basis in 2009. However the Brazilian miner did say it expected to sell 45% of its volumes to China on the spot market in the current year” said BRS.
On the capesize front, it was a stronger week, although for the most part gains were only evident on the Tubarao - China, and Richards Bay - China routes where rates jumped between 7%-13% between Monday and Thursday. Rates hardly moved in the Atlantic, where there was little fixing. Sentiment still seems relatively positive for the short term, with both period charters and forward rates above spot prices. Third quarter FFA rates are currently trading at US$32,570/day. Overall the four time charter finished at US$30,641/day on April 1 ahead of the Easter holiday. However at the resumption of business on Tuesday it fell back to US$29,919, while the BCI fell 52 points to 3,377 points.
Meanwhile, on the Panamax front and particularly in the Pacific, cargo enquiry, especially for Indonesian coal, returned again, after an almost two-week break. “Time charter levels are now above $28,000 per day for a modern Panamax delivery. At the same time, we have also seen many vessels open for prompt dates, especially older vessels without RightShip approval. Some iron ore traders are still active, especially on WCI and PG: older Panamaxes open WCI were fixing at US$28,000/day back to China for dates at the end of April, and at least US$37,000 daily for a modern Panamax open PG prompt. Some vessels open Singapore or south east Asia are still opting for ECSA grain, with modern Panamaxes pushing for over US$33,000 per day and older vessels for mid/high US$20,000s” said BRS.
As for the smaller supramax/handy vessel types, rates were declining across the board last week, with the supramax time charter average ending the week at $25,188, compared to $28,829 in the previous week. As for the handy market it stood at $19,781 versus $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- The University of Queensland
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
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